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London: The Candy brothers want to convert the US Embassy site in Grosvenor Square into luxury flats after the American Ambassador announced it was moving to south London.
Christian and Nick Candy want to develop 20 and 24 Grosvenor Square and are putting a proposal together.
The British businessmen are believed to have put their so-called "F1 planning team" on the project in a bid to secure the site, considered one of the world's most expensive real estate opportunities.
The revelation came after US Ambassador Robert Tuttle announced the embassy would be moving from Grosvenor Square to Nine Elms, Battersea.
The current building will be offered for sale almost immediately, although the deal requires the approval of US Congress and planning authorities in Britain.
It is welcome news for Mayfair residents, who claim to fear a possible terrorist attack.
Bidding war
A bidding war is now set to ensue for the highly lucrative Grosvenor Square site. A source close to Candy & Candy said: "The company is currently drawing up plans to put in a bid for the US Embassy site. It is a prime location and would add to their multi-billion pound London property portfolio."
The move could take up to five years and any redevelopment would not be without complications. English Heritage is known to be considering a listing, but declined to comment.
- Evening Standard
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